Substitute Senate Bill 172 Summary

• Exempts sales and use of investment metal bullion and investment coins from Ohio sales and use taxes, effective the first day of the first January, April, July, or October that begins at least 60 days after enactment.

• Expands the fraternal organization property tax exemption to include organizations operating under a state governing body that has been operating in Ohio for at least 85 years.

• Changes quarterly municipal income tax withholding payment deadline from the fifteenth to the last day of the month following the end of each calendar quarter.

• Modifies rules for when electronic funds transfer payments are considered made, allowing payments delayed due to circumstances beyond the taxpayer's control to be deemed made when the taxpayer submitted the payment based on the timestamp from the first electronic system receiving it.